$17M construction loan secured for Botanic Residences in Miami

MIAMI, March 24, 2026 –  JLL Capital Markets announced today that it has secured a $17 million, non-recourse, construction loan for Botanico Residences, a 51-unit luxury condominium development in Miami, Florida.

JLL represented the borrowers, Forth Development and MICL, in arranging the construction financing.

Botanic Residences is located in West Brickell/Little Havana and will deliver some of the first high-finish condominium product to the market. The project features fully furnished units and a comprehensive amenity package including a state-of-the-art fitness center, co-working spaces and resort-style pool. The property offers flexible rental restrictions, allowing owners to position units as short-term rentals.

“We are thrilled to have partnered with Forth Development and MICL to successfully arrange and structure the financing for Botanico Residences – which represents one of the first luxury condominiums in the up-and-coming West Brickell neighbourhood of Miami,” said La Cava. "The combination of premium finishes, flexible rental restrictions and West Brickell's strategic location creates compelling value for both end-users and investment buyers seeking income-generating assets in one of the nation's most dynamic real estate markets."

JLL Capital Market’s Debt Advisory team representing the borrower was led by Managing Director Max La Cava and Director Pier Barinci.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.